NITDA has recently revealed that the upgraded e-payments solutions and deeper broadband penetration were the reasons Nigeria saw growth in e-commerce.
The National Information Technology Development Agency (NITDA) revealed the upgraded e-payments solutions and deeper broadband penetration were the reasons Nigeria saw growth in e-commerce and this is expected to grow by 14% yearly.
Mr. Kasim Sodangi, the National Coordinator, Office for Nigeria Content Development in ICT (ONC), a NITDA subsidiary, revealed this during the 2020 e-Commerce and Marketing Online Seminar for Micro, Small, and Medium Enterprises (MSMEs) that took place in Abuja on Wednesday.
According to Mr. Sodangi, the country’s e-commerce sector is projected to experience at least 14% growth on a yearly basis.
He cited a report compiled by McKinsey that Nigeria’s e-commerce sectors are majorly retail components.
The e-Commerce in Nigeria is determined by the population which is about 200million, with 132million of them using the internet. This number is likely to increase internet penetration.
“This is expected to be at 65.2 percent by 2025. There are about 300,000 online purchases daily compared to the previous 30,000 witnessed in previous years,” Sodangi added.
He noted that Nigeria’s demography for online shopping is majorly composed of the youths within the age of 25-35, with 68% of the online shopping performed via the mobile phone.
“Going by trends, social media may become the most dominating form of e-commerce and very important in our journey to deepen e-commerce in Nigeria,” Sodangi concluded.
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